Summary

McConnell, Brue, and Flynn's Economics: Principles, Problems, and Policiesis the #1 Principles of Economics textbook in the world. It continues to be innovative while teaching students in a clear, unbiased way. The 19th Edition builds upon the tradition of leadership by sticking to 3 main goals: Help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy.

Table of Contents

PART 1: AN INTRODUCTION TO ECONOMICS and THE ECONOMY

To the Student

1 Limits, Alternatives, and Choices (+ Appendix)

2 The Market System and the Circular Flow

PART 2: PRICE, QUANTITY, AND EFFICIENCY

3 Demand, Supply, and Market Equilibrium (+ Appendix)

4 Elasticity

5 Market Failures: Public Goods and Externalities

PART 3: GDP, GROWTH, AND INSTABILITY

6 An Introduction to Macroeconomics

7 Measuring Domestic Output and National Income

8 Economic Growth

9 Business Cycles, Unemployment, and Inflation

PART 4: MACROECONOMIC MODELS and FISCAL POLICY

10 Basic Macroeconomic Relationships

11 The Aggregate Expenditures Model

12 Aggregate Demand and Aggregate Supply (+ Appendix)

13 Fiscal Policy, Deficits, and Debt

PART 5: MONEY, BANKING, and MONETARY POLICY

14 Money, Banking, and Financial Institutions

15 Money Creation

16 Interest Rates and Monetary Policy

17 Financial Economics

PART 6: EXTENSIONS and ISSUES

18 Extending the Analysis of Aggregate Supply

19 Current Issues in Macro Theory and Policy

PART 7: INTERNATIONAL ECONOMICS

20 International Trade

21 The Balance of Payments, Exchange Rates, and Trade Deficits

22w The Economics of Developing Countries

OPTIONAL CONTENT FOR INSTRUCTORS(Available for instructors on the OLC)